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for governments and banks in countries such as spain and italy. vinals said neighbor nations need to do their part toward stability. policymakers need to build stronger firewalls and establish a banking union and a single supervisor. he said weak banks need to restructure their financing. now, vinals said what's happened in europe should serve as an example for financial leaders in the united states as well as here in japan. he said waiting until the strains become clearer just leads to harsher outcomes. vinals says japan's high level of debt presents a stability risk and said the government leaders need to deal with budget problems. they pointed to commercial bank holdings of government bonds as yet another risk. they project in five years bonds could make up a third of those banks' total assets and they warned those institutions would suffer heavy losses if interest rates rose. now, vinals said japanese leaders need to be more vigilant about their risks. i had a chance to speak with him about some of the problems and some of the solutions. mr. vinals, you spoke this morning about japan remaining
the job of rewriting the rules of finance. government leaders need to tackle what she calls a legacy of high debt. lagarde says they should focus on getting people, particularly young people, back to work, and they should address the imbalances between rich and poor. she says financial leaders need to lift a veil of uncertainty. >>> one of lagarde's deputies says everyone at the imf world bank meetings is focused on uncertainty. our ron madison talked with joo ming to find out what he hopes will come out of this conference. >> which hold the most threat do you think of potentially derailing a fragile economy? >> the current risk number one is still the european crisis. if the crisis intensifies, it can cause skwit a bit of damage for the whole world. we did a study to see if one extreme case, for example, if things go, it could cause roughly 6% of gdp impact itself and roughly 6% for uk collective gdp impact, rough ly 2% for u.s and 2% for japan and china and the rest of the world. so, this is a pretty serious situation. >> we're seeing a slowdown now in china just ahead of the chang
and that money buys the vaccines. the risks are relatively small. the returns are guaranteed by government donations. the real payoff, though, is seen in countries across the developing world. >> we were able to immunize 325 million children and save more than 5.5 million lives. >> reporter: firms issued the first vaccines in 2006. people in japan were allowed to start buying them two years later. they now account for half of the 60,000 investors worldwide. japanese are interested in the product because they have based low-interest rates on investments for years. but it's more than that. >> translator: i think it's very good because it can raise focus, and it can invest in meaningful activities at the same time. >> i think that conscience of the japanese public is very important to this effort. >> reporter: amy ohno wants to be part of that effort. she's looking forward to the next vaccine vial issuance. she likes the potential reward on her investment. >> translator: i'm home. >> reporter: and she likes the example she's setting for her 11-year-old son, kyohe. >> translator: there are so
is given by the government for the public wealth and so on, it is not in line with the transformation to the consumption economy. and also it might involve the risk of inflation and realistic hike and so on. so they look a little bit prue dentd, but they have 7.5% of growth target. so i think in the end they'll achieve the goal. >> reporter: recent tensions over territorial disagreements between japan and china have cast a shadow over the two economies. nakao says he hopes the meetings will help the two sides overcome their differences. >> this shouldn't impede a strong economic tie. and i mention that prime minister noda and premier wen last december agreed to the cooperation. we have a lot of concrete efforts. once again, i hope that any difficulties will not harm this kind of progress. >> reporter: all right. well, as you can imagine, bankers have been wringing their hands at all this uncertainty that we've been talking about. tomorrow we'll take a look inside the financial sector. we'll have lots more from here at the tokyo international forum. >> that was nhk world's ron madison.
committee is warning government agencies not to use products made by china's two top technology firms. committee members have been investigating them for almost a year. they say the firms may be involved in espionage activities for the chinese government and military. they are major global suppliers of mobile devices. nhk obtained a copy of the panel's report. the document criticizes the companies for being unwilling to cooperate with the inquiry. it says the firms fail to provide sufficient information on their relationship with the chinese government. the report concludes members of the intelligence committee cannot overcome the concerns they have regarding the firms' involvement with chinese intelligence. it warns the u.s. government not to use their products. chinese foreign ministry spokesperson hong lei reacted by saying china's technology firms are complying with the rules that govern global markets. and he says the u.s. is benefitting from various chinese products. hong called on u.s. leaders to abandon prejudice and avoid moves that would hinder the economic relationship betw
Search Results 0 to 4 of about 5